Nano Labs (NASDAQ:NA) Director Sells 11,165 Shares

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Director Nan Hu sold 11,165 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.25, for a total transaction of $25,121.25. Following the transaction, the director owned 27,651 shares in the company, valued at approximately $62,214.75. The trade was a 28.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Nano Labs Price Performance

Shares of NASDAQ:NA traded up $0.18 during trading on Wednesday, hitting $2.18. 50,821 shares of the company’s stock were exchanged, compared to its average volume of 168,164. Nano Labs Ltd. Sponsored ADR has a 1-year low of $1.58 and a 1-year high of $6.10. The firm has a 50-day moving average price of $1.88 and a two-hundred day moving average price of $2.35. The company has a quick ratio of 2.03, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.

Nano Labs (NASDAQ:NA) last announced its quarterly earnings data on Friday, August 28th. The company reported ($2.01) earnings per share for the quarter. The company had revenue of $0.20 million for the quarter.

Wall Street Analyst Weigh In

NA has been the topic of a number of analyst reports. Wall Street Zen raised Nano Labs to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Nano Labs in a research note on Tuesday, July 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Nano Labs

Large investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in shares of Nano Labs during the fourth quarter worth $89,000. XTX Topco Ltd increased its position in shares of Nano Labs by 40.9% in the 4th quarter. XTX Topco Ltd now owns 36,641 shares of the company’s stock valued at $115,000 after buying an additional 10,638 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Nano Labs by 9.3% in the 4th quarter. Vontobel Holding Ltd. now owns 51,045 shares of the company’s stock valued at $161,000 after buying an additional 4,364 shares in the last quarter. Institutional investors own 50.68% of the company’s stock.

About Nano Labs

Nano Labs Ltd operates as a fabless integrated circuit design company and product solution provider in the People's Republic of China and internationally. It develops high throughput computing and high-performance computing chips. The company also offers distributed computing and storage solutions, smart network interface cards, and vision computing chips, as well as distributed rendering technology. In addition, it engages in the research and development of software. Its customers include enterprises and individual buyers.